Baku, Tbilisi mull cooperation prospects

By Azernews

By Nigar Abbasova

Azerbaijan and Georgia, which enjoy long-standing political relationship and successful economic cooperation, have discussed prospects for further interaction as Georgian Foreign Minister Mikheil Janelidze is on an official visit to Baku.

In a joint briefing after the talks with his Azerbaijani counterpart Elmar Mammadyarov on February 12, Janelidze said that there is a high-level political dialogue between Georgia and Azerbaijan and the two countries support the territorial integrity and sovereignty of each other.

He mentioned that the two countries intend to develop economic cooperation in bilateral format as well as at the regional level.

“Energy cooperation is one of the main components of our economic cooperation. The two countries also plan to strengthen the cooperation in mutual investment and transportation,” he said.

Mammadyarov, in turn, said Azerbaijan-Georgia relations are based on friendship and good neighborliness. The Azerbaijani Minister also touched upon the implementation of the Baku - Tbilisi - Kars railway project, which is expected to expand multi-modal transportation opportunities and boost the transit potential of the regional countries.

 “The railway will go into service this year. This project will contribute to the development of the three participating countries”, added the minister. 

The initial bandwidth capacity of the BTK project stands at 6.5 million tons, while the volumes may reach some 35 million tons a year in medium term perspective.

Azerbaijan has invested almost $1.7 billion in Georgia’s economy since 2006, including $283 million since early 2016.  The highest indicator of Azerbaijani investments in Georgia, which stands at $550 million, was reached in 2015.

The trade turnover between Azerbaijan and Georgia amounted to $244.58 million in January-September 2016, according to Azerbaijan’s State Customs Committee. Georgia with $221.83 million (3.39 percent of the total volume of Azerbaijani export) ranks the ninth in the list of main importers from Azerbaijan.

Azerbaijan mainly exports petroleum, petroleum oils and gases, gypsum, anhydrite, plaster and other products to Georgia, while motor cars, live bovine animals, bars and rods of iron, as well as cement, make up the majority of imported goods from Georgia to Azerbaijan.

Besides, Azerbaijan’s state oil company SOCAR is deeply involved in the energy market in the neighboring South Caucasus republic.